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James Dyson reveals $2.7B electric car project

James Dyson
James Dyson holds a Dyson 360 Eye robotic vacuum-cleaner. Will he be showing off an electric car in 2020? (Dyson Photo)

Would you buy a new electric car from this vacuum-cleaner salesman? James Dyson, the founder of theĀ Dyson gadget powerhouse, is betting $2.7 billion that you will.

Today Dyson, who made his name with high-tech vacuum cleaners and has branched out into fans, heaters, hair dryers and other electric devices, took the wraps off a secret project to design a battery-powered vehicle, with the product launch set for 2020.

A billion British pounds ($1.35 billion) would go toward developing the car, and another billion would go toward making the battery.

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